Bitcoin prediction- movie with a happy ending Bastille I took your advice and started a new conversation and decided to respond to the bitcoin poster bobodolen.
This movie will end as follows:
Did you know that bitcoin was initially used primarily for drug transactions?
Few people know it is a treasure hunt and you actually mine for bitcoins. With the computer power of 10000 computers you may eventually find one. As the bitcoin manufacturers recently added 3 zeros to the 20-30 number programs they put out for mining ( the mining is like running a program using all number and letter combinations to hack a hotmail password) so now it takes gigantic computer power to run the numbers and discover a bitcoin.
These computers take more electricity than Denmark right now. There are few sellers, no one shorting but that will start tomorrow. It was also totally unregulated. Not tomorrow. Plus the more the price goes up the more we get close to using all ofthe world electricity to power humongous computers to mine a new bitcon.
Just watch the 17453 doctors in mathematics in Chicago and New York puncture that bubble. It starts with huge leverage today and billions in cash which they have,maybe push the price up some more , then short. Mark my word this bubble will end soon but the most secure and unregulated types of bitcoins will continue to be used for money laundering and drugs.
The value of a bitcoin is its security and being outside the realm of government, tax and police officials.,
Its really fun to watch watch when you you know this movie will have a happy ending with the eventual migration of crypto funds, (bond funds, stock market funds too) towards gold stocks, historically seriously under evaluated.Bitcoins are gold's best friend, in a way, when the bubble pops.
Everything else has valuations that are insane (those US tax breaks are driving the markets so beware the buy on runour , sell on news syndrome). Based on a true story.